ACTION Apartment Association

While Rents Subside Across U.S., Santa Monica Sees Increases

11/06/2023 10:30 AM | Margaret Fulton (Administrator)

Santa Monica was not a part of the nationwide trend of declining rents last month, as the median price for a one bedroom apartment within the oceanside city saw a 1.2% increase during October, according to research from Apartment List.

Revised Policy Increases Affordable Housing Requirements in Marina del Rey

11/06/2023 10:28 AM | Margaret Fulton (Administrator)

While a previous proposal increased the amount of on-site affordable housing for up to 20%, the policy approved at its Oct. 17 meeting calls for 30% of residential units in newly-built and “rehabilitated projects” (revitalizations of structural systems that result in at least three tenants vacated for at least 15 days) to be set at below market rates. Two-thirds of which are reserved for very low-income households while the rest are for ones deemed either low- or moderate-income.

North of Montana Remains Among Most Expensive U.S. Zip Codes

11/06/2023 10:27 AM | Margaret Fulton (Administrator)

The city's 90402 zip code "saw a mere 2 percent increase" in home prices from last year to reach a median sale price of $4,489,000, according to the real estate data provider.

That dropped Santa Monica from the seventh to the eighth spot, although two cities tied for sixth place this year, according to the latest rankings.

Big real estate ruling may be years away from trickling down to Santa Monica properties

11/03/2023 9:16 AM | Margaret Fulton (Administrator)

The National Association of Realtors was ordered to pay almost $1.8 billion in damages this week over accusations the organization’s policy of forcing home sellers to pay the commission charged to home buyers is a violation of federal antitrust laws.

An additional lawsuit has already been filed covering the entire country but local experts said how the local market might change is up in the air and how long those changes would take to reach California.

L.A. seeks to strengthen housing inspection program

11/02/2023 8:48 AM | Margaret Fulton (Administrator)

The Los Angeles City Council Wednesday approved a motion seeking to improve the city's housing inspection capabilities to ensure timely and quality repairs for renters, and to encourage tenants and landlords to fully participate in the process.

Santa Monica Politics by Charles Andrews

11/01/2023 12:20 PM | Margaret Fulton (Administrator)

This is written for all who love this special city. And that includes a lot of folks I believe are instrumental in destroying what we have/had here. Some of those have been corrupted by their desires for money or power or prestige. But many have become ideologues who so fiercely believe in a philosophy that they can ignore the damage done to people, neighborhoods, character, history and heritage.

Read More: on page 3: https://s3.amazonaws.com/smdp_backissues/110123.pdf

Santa Monica Rents Rise During Seasonal Slowdown

11/01/2023 12:13 PM | Margaret Fulton (Administrator)

For the third straight month Santa Monica rents rose in October, defying a nationwide downswing that began in August, according to the latest monthly report by Apartment List.

S.M.a.r.t Column: Four Futures

10/31/2023 12:37 PM | Margaret Fulton (Administrator)

Likewise our next competency loss is already here with the collapse of the 3rd Street Promenade winged by Amazon’s dominance, Covid’s office diaspora, and cinema’s long fade. Of course, it did not help that we grew another unintended competence over the last few decades when we became the premier home of people without housing.

Equity Firm Adjusts Plans for Another Santa Monica Mixed-Use Project

10/31/2023 11:33 AM | Margaret Fulton (Administrator)

Cypress Equity Investments has initiated revisions once again for one of its handful of mixed-use projects intended for Santa Monica, Urbanize LA reported.

Since 2022, the Los Angeles-based developer has been pursuing a project located at 2025 Wilshire Boulevard.

City Hall Veteran Tapped for Top Financial Post

10/31/2023 11:27 AM | Margaret Fulton (Administrator)

Oscar Santiago -- who has held numerous fiscal posts during his 32-year career at City Hall -- will become the City's Finance Director on December 27, said City Manager David White.